Foot Locker to Relocate Headquarters from NYC to Florida by 2025 Citing High Costs
Foot Locker announced it will relocate its headquarters from New York City to St. Petersburg, Florida, by late 2025, citing high costs in New York and a need for greater team collaboration. CEO Mary Dillon emphasized the move's cost efficiencies while maintaining a limited presence in New York to stay connected to basketball and sneaker culture. The shift follows a trend of companies relocating to Florida, such as Ark Investment Management, which moved to St. Petersburg in 2021. Foot Locker's market value is more than $2 billion, with shares down over 4% this year.
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00:00It's Benzinga, and here's what's on the block.
00:02Foot Locker announced it will relocate its headquarters from New York City to St. Petersburg,
00:06Florida by late 2025, citing high costs in New York and a need for a greater team collaboration.
00:12CEO Mary Dillon emphasized the move's cost efficiencies while maintaining a limited presence
00:17in New York to stay connected to basketball and sneaker culture.
00:20The shift follows a trend of companies relocating to Florida, such as Ark Investment Management,
00:25which moved to St. Petersburg in 2021.
00:28Foot Locker's market value stands at more than $2 billion, with shares down over 4 percent
00:32this year.
00:33For all things money, visit Benzinga.com.